Ask the great god to calculate this simple and compound interest calculation problem.
Solution: The total interest rate of a simple interest loan with an annual interest rate of 6% for three years is 6%x3=18%, and the total interest rate of an annual compound interest loan with an annual interest rate of 5.8% for three years is 5.8%+5.8% × (1+5.8%)+5.8 %× (1+5.8). = 5.8%+6.1364%+6.4923112% = 18.4287112% < P > Therefore, the interest cost of the loan from Bank A is lower.